Economy

The government’s housing and investment body has released draft amendments to allow more private investment towards social housing.

Home buying intentions have further declined in October according to the latest data from the Commonwealth Bank of Australia.

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

The Reserve Bank of Australia’s November rate hike will put further pressure on mortgagors, according to Hume Bank chief executive Stephen Capello. 

“Unprecedented events” such as the Ukrainian war contributed to an “underestimation” of inflation, the central bank has determined.

Persistent high inflation would mean dealing with it for longer and even higher interest rates, the RBA has warned.

Some mortgagors who took out a loan before October 2021 wouldn’t service their loan buffer now, CoreLogic has flagged, noting many face “unchartered waters”.

In a call that could have gone each way, the central bank has announced a 25 basis points hike for its Melbourne Cup Day rate decision.

Most big four banks expect a 0.25 per cent rate hike today, but recent inflation data may have put 50bps back on the table.